'Good price' is a relative term naturally.

In NJ multi's have 5 yr State inspections so it's natural that we get hit with compliance first.

Naturally, the agent is going to make deals look a little better than they really are because they want you to buy.

They will look at flipping during the previous 12 months, which by the nature of it being a recent foreclosure is an unlikely scenario but one you do want to check by asking your Title Company for a Chain of Title early in the process.

The price quoted seems OK to me; since I usually end up with natural gas-fired heat rather than the electric systems you seem to be getting you might have to adjust a bit for different energy source.I'm surprised that you are being told "no permits needed" for this.

Lots to know, and it would be impossible to answer your question well here because it is very general in nature.

Development by its nature is a few years behind the current times.

I think it's human nature for one to feel as if they contirbuted more in effort, time, talents or money than the others involved, I have seen and been involved in deals where all have said that there was equity in the arrangement, but it was obvious that at times there were felling of inequities, especially by those contributing labor and/or securing the deal.I guess that I have been guilty as well as the funding partner of saying in essence, "without me, you have no deal".

If the price of propane goes up, will you change the water heater back to electric or maybe to natural gas?

We even talked about an investor maybe.I'm still timid on the deal... it's a lot of money for me.btw, I was already a step a head of you with the need for an LLC or something of that nature...